{"id":22133,"date":"2025-03-17T13:26:28","date_gmt":"2025-03-17T11:26:28","guid":{"rendered":"https:\/\/forklog.com\/en\/south-korea-dismisses-idea-of-strategic-bitcoin-reserve\/"},"modified":"2025-03-17T13:26:28","modified_gmt":"2025-03-17T11:26:28","slug":"south-korea-dismisses-idea-of-strategic-bitcoin-reserve","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/south-korea-dismisses-idea-of-strategic-bitcoin-reserve\/","title":{"rendered":"South Korea Dismisses Idea of Strategic Bitcoin Reserve"},"content":{"rendered":"<p>The Bank of Korea has &#8220;never considered&#8221; including Bitcoin in its foreign exchange reserves and views such a prospect &#8220;with caution,&#8221; according to <a href=\"https:\/\/n.news.naver.com\/mnews\/article\/215\/0001202021?sid=101\">Korea Economic Daily<\/a>.<\/p>\n<p>The regulator clarified its stance in response to a query from a member of the National Assembly&#8217;s Strategy and Finance Committee.<\/p>\n<p>The primary deterrent cited by the South Korean central bank is the high volatility of the cryptocurrency. There are also concerns that in the event of &#8220;market instability in virtual assets,&#8221; the costs of converting Bitcoin into cash could surge.<\/p>\n<p>Furthermore, the Bank of Korea stated that the leading cryptocurrency does not meet the standards for foreign exchange reserves. According to recommendations from the <span data-descr=\"International Monetary Fund\" class=\"old_tooltip\">IMF<\/span>, assets included should:<\/p>\n<ul class=\"wp-block-list\">\n<li>be liquid and market-traded;<\/li>\n<li>be denominated in a convertible currency;<\/li>\n<li>have an investment-grade credit rating or higher.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;It has been reported that some countries, including <a href=\"https:\/\/u1f987.com\/en\/news\/czech-central-bank-considers-bitcoin-for-reserve-diversification\">the Czech Republic<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/brazilian-lawmaker-proposes-national-bitcoin-reserve\">Brazil<\/a>, have expressed positive views, whereas the <a href=\"https:\/\/u1f987.com\/en\/news\/ecb-adviser-deems-bitcoin-unsuitable-for-national-reserves\">ECB<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/swiss-central-bank-chief-deems-bitcoin-too-risky-for-reserves\">Swiss National Bank<\/a>, and the government of <a href=\"https:\/\/u1f987.com\/en\/news\/japan-expresses-doubts-over-bitcoin-reserve-proposal\">Japan<\/a> have taken a negative stance,&#8221; the regulator noted in response to the lawmaker&#8217;s inquiry.<\/p>\n<\/blockquote>\n<p>Back in early March, U.S. President Donald Trump <a href=\"https:\/\/u1f987.com\/en\/news\/trump-establishes-u-s-strategic-bitcoin-reserve\">signed an order<\/a> to create a strategic crypto reserve. A survey showed that 51% of voters <a href=\"https:\/\/u1f987.com\/en\/news\/majority-of-us-voters-oppose-crypto-reserve-initiative\">do not support<\/a> the initiative.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Korea has &#8220;never considered&#8221; including Bitcoin in its foreign exchange reserves and views such a prospect &#8220;with caution,&#8221; according to Korea Economic Daily. The regulator clarified its stance in response to a query from a member of the National Assembly&#8217;s Strategy and Finance Committee. The primary deterrent cited by the South Korean [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1641,974],"class_list":["post-22133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-reserves","tag-south-korea"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=22133"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22133\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/22132"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=22133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=22133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=22133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}